Arkansas 529 GIFT College Investing Plan

Arkansas 529 College Savings Plan

GIFT College Investing Plan

Arkansas's GIFT College Investing Plan is run by Upromise Investments, Inc. while the investments are handled by The Vanguard Group, Inc. There are several ways that contributions to the GIFT Plan can save money opposed to just using a savings account. First, the earnings are federal tax free when used for approved educational expenses. Next, you can donate up to $13,000 per year ($26,000 for married couples) without incurring any gift or estate tax obligations. Finally, Arkansas taxpayers can deduct up to $5,000 ($10,000 if married) from their state adjusted gross income. Visit https://thegiftplan.s.upromise.com/content/home.html for more information on opening your GIFT 529 Savings Plan account.

The Aspiring Scholars Matching Grant Program was created to help eligible students to add to their Arkansas 529 Savings Plan. Household adjusted gross income must be $60,000 or less and both the owner and beneficiary must be Arkansas residents and either U.S. citizens or permanent resident aliens. See https://thegiftplan.s.upromise.com/content/matchinggrant.html for more information and requirements. You should also check with a financial advisor and tax advisor to see if a 529 investment is right for you.